This paper shows how the social importance of heritage in Japan has grown, focusing on the evolution of the protection system. Heritage protection has been carried out, largely by the national government, for more than 150 years. Epochal events such as the modernization of the Meiji restoration...

The Henry George Theorem (HGT) states that, in first-best economies, the fiscal surplus of a city government that finances the Pigouvian subsidies for agglomeration externalities and the costs of local public goods by a 100% tax on land is zero at optimal city sizes. We extend the HGT to...

The recent global crisis has demonstrated strongly that a systemic crisis victimizes a large number of innocent crisis “bystanders.” In order to prevent global crisis recurrence, and avoid victimization of such innocent crisis bystanders, the global financial safety net needs to be...

Can the renminbi develop into a global currency? In the near future it seems unlikely. The international political power of the United States remains far greater than that of China at the global level, and is likely to be a significant obstacle to global expansion in use of the renminbi....

This paper develops a novel and efficient algorithm for Bayesian inference in inverse Gamma Stochastic Volatility models. It is shown that by conditioning on auxiliary variables, it is possible to sample all the volatilities jointly directly from their posterior conditional density, using simple...

Bereavement is a grieved and inevitable event in our life. For an aging society, the incidence of spousal bereavement and parental bereavement is higher than the other kinds of bereavement events. This study employs the difference-in-differences (DiD) strategy and the Taiwanese panel Survey of...

In 2007 Council for Cultural Affairs proposed that it was important that each local government　settles on ” basic plan of history and culture” that was a master plan to protect many local cultural properties with their surrounding environment, so from 2008 to 2010 20 local governments...

The time-series data of national opinion poll shows increasing support for economic cooperation since 2005. However, the general account budget for official development assistance has been continuously decreased. It is now below half of its peak in 1997. Although Japan’s public debt has...

The landscape of international development has changed markedly, with the acceleration of global integration and the shaping of the post-2015 development framework. This paper discusses the new era of Japan’s development cooperation from two perspectives—broader and deeper partnerships with...

This paper provides a political economy analysis of why the US Federal Reserve unprecedentedly established temporary reciprocal swap lines with a select four emerging market economies during the global financial crisis of 2008-09, thus acting as global lender of last resort for US dollars. It...